Housing market in chaos as banks pull mortgage offers and homeowners 'sell up because they can't afford repayments': First-time buyers must PROVE they can afford 7% interest rates as £58,000 could be wiped off average home
Estate agents have said that sales are collapsing as lenders suspended new mortgage deals yesterday
Ex-Bank of England governor Mark Carney slams Kwasi Kwarteng for 'undercutting UK's financial institutions'
Homeowners panicked by warnings of 6% interest rates are putting their houses and flats up for sale
Lenders are taking drastic steps after analysts warned the base rate could surge to six per cent next spring
Such a move would increase repayments for average household by up to £800 per month, or £9,600 annually
Comes as Huw Pill, the Bank of England's chief economist, warned of a 'significant monetary policy response'
The IMF also slammed Mr Kwarteng's mini-Budget, warning that it would lead to an increase in inequality
https://www.dailymail.co.uk/news/article-11261511/House-sales-COLLAPSE-banks-pull-mortgage-offers-11th-hour.html